Highlights from the UK Office of Budget Responsibility during the Autumn Budget Statement 22 November 2017

GDP

  • 2017 1.5% vs 2.2% prior
  • 2018 1.4% vs 1.6% prior
  • 2019 1.3% vs 1.9% prior
  • 2020 1.3% vs 1.9% prior
  • 2021 1.55 vs 2.0% prior

Budget deficit

  • 2019/20 1.6% of GDP vs 1.0% prior
  • 2020/21 1.5% vs 0.9% prior
  • 2021/22 1.35 vs 0.7% prior

PSNB (cyclically adjusted)

  • 2020/21 1.3% of GDP vs 2.0% target. Prior forecast 0.9%

PSND (CA)

  • 2017/18 debt to GDP to peak at 86.5% of GDP

GBPUSD has now dropped as Gilt yields drop. The forecasts look to be at the worse end of expectations.

I’ll keep subsequent comments from Hammond on the prior post.

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

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